Queensryche Looking For Investors

(Classic Rock) Queensryche are giving fans a chance to share in profits the band generates through record sales and merchandise deals. For a minimum of $50,000, investors can buy an ownership stake from a private holding company that will entitle them to a fixed percentage of any revenue generated by the band.

Attorney Marc LoPresti helped the group set up the limited liability company (LLC) and he says this could just be the start of similar projects. He tells the Seattle Times: "We think it's a first. If it's successful, which we expect it to be, we may do it again with other bands."

LoPresti reckons the stock sale could replace a label's usual role in financing tours and album recording sessions - and would mean more money for the band and investors as the label wouldn't be taking such a big slice of the profits. Read more here.

Classic Rock Magazine is an official news provider for antiMusic.com.
Copyright Classic Rock Magazine- Excerpted here with permission.

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